SunSirs: China PE Trend Tends to be Strong in October

https://www.chemnet.com   Nov 01,2024 SunSirs

According to the monitoring of the commodity market analysis system of SunSirs, the domestic price of LLDPE (7042) was 8,258 RMB/ton on October 1st, and the average price was 8,466 RMB/ton on October 30th, with a price increase of 2.52% during this period.

According to the monitoring of the commodity market analysis system of SunSirs, the domestic price of LDPE (2426H) was 10,500 RMB/ton on October 1st, and the average price was 10,866 RMB/ton on October 30th, with a price increase of 3.49% during this period.

According to the monitoring of the commodity market analysis system of SunSirs, the domestic price of HDPE (2426H) was 8,125 RMB/ton on October 1st, and the average price was 8,475 RMB/ton on October 30th, with a price increase of 4.31% during this period.

The overall trend of PE in October was strong, with a significant increase occurring after the National Day holiday. During the National Day holiday, due to the tense situation in the Middle East, the crude oil market rose. After the holiday, the PE market was boosted by favorable conditions, and prices increased significantly. The demand for agricultural film in October has entered the peak season, and there are positive expectations from the consumer side. On the supply side, with an increase in maintenance equipment and a reduction in supply, multiple favorable factors have boosted the upward trend of PE prices. Starting from mid month, most enterprise quotations have remained firm, with a significant decline in high-voltage products. There are expectations of an increase in the supply side of high-voltage products, and some enterprises have restarted their equipment, which has suppressed the continuous downward movement of high-voltage product prices. In addition, the market has a resistance to high priced goods, and the market demand is lower than expected, resulting in low downstream enthusiasm for receiving goods. Most of the essential needs are mainly purchased at low prices. As the end of the month approaches, PE is undergoing a weak and narrow adjustment. In order to promote transactions, businesses are actively offering discounts and shipping.

On October 31st, the Dalian Commodity Exchange PE L2501 contract opened at 8,071 RMB and closed at 8,150 RMB, up 76 RMB, with a high of 8,166 RMB and a low of 8,061 RMB, up 0.94%. The October futures market trend is weak, suppressing the spot market.

The maintenance of the PE plant in the fourth quarter is limited, but the supply is sufficient, and new production capacity is gradually being put into operation; The demand for agricultural film is gradually weakening in November, and it is expected that PE will mainly show a weak trend.

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.

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